Men’s Wearhouse has opened the first Joseph Abboud flagship in New York City, marking the menswear retailer’s move into a higher-end niche. The upscale menswear category is growing faster than the lower-priced tiers, and the elegant 4,300-square-foot Madison Avenue store is a key part of the company’s plan to revive Abboud and build it into a $1 billion brand. Read the Fortune story here